This is an excerpt from Securities Class Action Filings 2024 Midyear Assessment

This figure highlights recent trend categories that have appeared in core filing activity. See the Glossary for definitions of each trend category.

• In 2024 H1, tracking of filings with allegations related to AI began. While AI-related filings are not new, the growing prominence of AI in the business models of many companies may lead to an increase of such filings in the future.
• There were five AI-related filings in 2020, eight in 2021, six in 2022, six in 2023, and six in 2024 H1.
• The trend categories with the most filings in 2024 H1 were COVID-19 (seven), followed by AI (six), SPAC (five), and Cryptocurrency (three).
• The number of cryptocurrency-related filings in 2024 H1 (three) was in line with 2023 H2 (three) but down sharply relative to 2023 H1 (11).
• There have been no new filings in the 2023 Banking Turbulence trend category since 2023 H2, possibly reflecting increased stability in the banking sector.

Tracking of filings in the AI trend category began. Filing totals in all other trend categories are on pace to decline, except COVID-19-related filings.

• The number of COVID-19-related filings in 2024 is on track to exceed the number of such filings in 2023. These COVID-19-related filings often include allegations related to issues resulting from the pandemic’s impact on product demand.
• Despite being one of the trend categories with the most filings, the annualized number of SPAC-related filings in 2024 H1 declined sharply relative to prior years.
• There were no cybersecurity-related filings in 2024, representing a continued decline from the 2021 high of seven filings.

Figure 4: Summary of Trend Filings—Core Federal Filings 2020–2024 H1

The views expressed herein are solely those of the authors and do not necessarily represent the views of Cornerstone Research.